【作者】 任倩；

【导师】 康书生；

【作者基本信息】 河北大学 ， 金融学， 2007， 硕士

【摘要】 本文以投资银行业务作为研究对象,试图通过对国外投资银行业务发展的考察,为确立我国投资银行业务发展策略提供重要的现实依据。投资银行业务在国外自产生至今已有上百年历史,已相对发展成熟,而在我国,投资银行业目前还属于朝阳产业,投资银行业务的开展还有待进一步拓展深化。因此,现阶段,对于中外投资银行业务发展历程、现状、趋势以及如何建设中国投资银行的研究就显得尤为重要。本文在对以英国、美国、日本为代表的国外投资银行业务发展历程的回顾与比较分析的基础上,积极探索国外投资银行业务发展的一般规律,通过中外投资银行业务发展及现状的比较,试图找寻导致我国投资银行业务现状的主、客观原因。在上述分析的基础上,文章进而结合国外投资银行业务的发展趋势及我国国情,提出了我国投资银行业务发展策略。本文在第一章中主要针对投资银行、投资银行经营模式、投资银行业务等概念进行了介绍,以确保在下面的论述过程中有统一的概念界定。在第二章中,主要以英国、美国、日本为例,对各国投资银行业务的发展历程进行了回顾,并对此进行了比较分析,得出了国外投资银行业务发展的一般规律,即：投资银行业务是在紧跟国内外经济发展趋势,不断满足客户多样化需求的条件下拓展的；投资银行业务是在与资本市场的互动发展中逐步成熟的；在不同的经济政治发展阶段下,安全与效率的权衡决定了投资银行业务与商业银行业务之间分离或融合的现实选择；投资银行创新能力与金融工程的崛起是投资银行业务范围拓展的动力。接下来,文章结合中国投资银行业务的产生发展历程,在第三章中对中外投资银行业务发展和现状进行了比较研究,认为中国投资银行业务在发展过程中,由于在业务创新能力、风险防范能力、资金规模、行业竞争程度以及投资银行业务产生的时代背景、证券市场发展程度、经营模式等方面同国外存在着差异,导致了目前中国投资银行业务开展情况与国外投资银行的显著差距。在上述分析的基础上,文章在第四章参照国外投资银行业务发展趋势,结合当前我国投资银行业务发展所面对的机遇和挑战,提出了我国投资银行业务发展策略。认为我国应适度放宽证券业的经营领域限制,深化发展资本市场改革,构建完备的监管框架,不断创造并完善良好的金融市场环境。同时,要进一步提升投资银行业的整体素质和实力,通过引入多元的投资主体,建立内部风险防范体系,按市场化要求整合资源,培养投资银行人才,发展国际业务,积极创新业务品种,培养核心业务实施差别服务与特色服务等措施,不断增强投资银行自身竞争力,促进我国投资银行业务的持续发展。更多还原

【Abstract】 This article takes the investment banking as a research object, attampts to provide realistic reference for establishing the development strategy of Chinese investment banking, in the investigation of the development process of the LDCs. The foreign investment banking has been in development for several centuries since its birth,and it has been highly experienced. But in china,investment bank is an emerging industry, and it expects further development eagerly. So,at present,the research on the history and current situation and the developing tendency of sino-foreign investment banking, especially on how to promote the building of our investment banking seems to be very important. In carries on the review and comparative study of the development of foreign investment banking, the article discovers some general rules of the investment banking development. Then, through comparative study on the development of sino-foreign investment banking, the article trise to find the subjective reasons and the objective reasons which makes the chinese investment banking current situation. With consideration of the developing tendency of the investment banking abroad and our country’s characteristics, this article suggests the development strategies of investment banking in China.In chapter one, the article has limited the concept of the investment banks,the business model, and the investment banking, which is to insure that there is a same concept when they were used in the following analysis.In chapter two, the article takes Britain America and Japan as examples, takes a review of their investment banking developent history, and gives a comparison. In the end, the article finds some general rules of the foreign investment banking development:firstly, the investment banking develops with the trend of the economic development,and continually satisfies the diverse needs of customers.Secondly, the investment banking becomes highly experences in interactive development with capital market. Thirdly, in different economic and political development stage, the trial between safety and efficiency decides whether mixed operation or divided operation could be acted.Fourthly, the ability to innovate and financial engineering is the force of investment banking development.Then, considering about the developing history of Chinese investment banking, chapter three makes a comparative study on the development and the current situation of sino-foreign investment banking. Then it points out that the differences of the ability to innovate,the ability to risk prevention,capital scale,the degree of competition,developing background,the degree of development of the securities market and business model between chinese and foreign investment banking, lead to a different current situation between Chinese and foreign investment banking.On the basis of above analysis, chapter four takes a reference to the developing tendency of the investment banking abroad and opportunities and challenges our investment banks face now, and it suggests some development strategies of our investment banking finally. The development strategies include relaxing restrictions on the securities industry, deepening the reform of the capital market, improving regulatory frameworks, which is all that aim to keep on building a favorable financial market environment. At the same time, the investment banks should also improve their quality and strength, through introducing diversified investors, building internal risk prevention system, integrating resources according to market demand, training investment bankers, developing international services, creating new businesses, building the core business, providing special and professional services.The Chinese investment banks should do their best to enhance their own competitiveness,and improve the development of investment banking.更多还原